PTC postpones IPO, waits for new data

With new clinical data scheduled to arrive in a matter of months, PTC Therapeutics announced that it will postpone a planned IPO. President and Chief Executive Stuart Peltz added that the company is in a strong financial position, with $42 million from a series of upfront payments from development partners and $20 million in grants and research funds.

"With three Phase II studies ongoing in genetic disorders for our most advanced program, PTC124, and with our second most advanced program, PTC299, about to enter Phase 1b clinical development in breast cancer, we are excited about the coming year," said Peltz.

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